OK Zimbabwe Limited

OKZ.zw | Release of 2013 annual report

By Published On: July 18th, 2013Categories: Corporate announcement

The Directors of OK Zimbabwe Limited are pleased to announce the release of the Group’s 2013 annual report for the year ended 31 March 2013. Below is an extract of the Chairman’s Statement and a few financial highlights.

Chairman’s Statement

National Economic growth in the 2012 calendar year slowed down to 4.3% from 9.3% recorded in 2011. The slowdown continued into the first quarter of 2013. Economic growth was limited largely by insufficient capital, lower employment and resultant liquidity constraints which affected the pace of investment and the level of consumption…

Group performance
Revenue generated for the year increased by 16.3% to $479.6 million from $412.6 million in the prior year. Profit before tax was 12.8% up at $16.9 million from $15.0 million in the prior year, while profit after tax grew by 20.1% to $12.4 million from $10.3 million…

The Directors have recommended a final dividend of 0.40 cents per share to be paid to shareholders on or about the 2nd of July 2013…

The Group believes that the combination of its strong brands and committed, experienced staff will enable it to continue competing effectively in a market characterised by diminishing disposable incomes…

Financial Highlights

  • Revenue – US$479,635,937
  • Profit before tax – US$16,903,490
  • Profit for the year – US$12,382,278
  • Total assets – US$116,297,031

To download or view the full 2013 annual report please click on the links below:

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